PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Empirical Finance LLC

Empirical Finance LLC boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,541 shares of the company’s stock after buying an additional 996 shares during the period. Empirical Finance LLC’s holdings in PepsiCo were worth $8,084,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates increased its position in shares of PepsiCo by 59.0% during the third quarter. Global Wealth Strategies & Associates now owns 159 shares of the company’s stock worth $27,000 after acquiring an additional 59 shares during the period. Highline Wealth Partners LLC acquired a new stake in PepsiCo in the third quarter valued at approximately $28,000. POM Investment Strategies LLC grew its holdings in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of PepsiCo in the 2nd quarter valued at $30,000. Finally, Rakuten Securities Inc. lifted its position in shares of PepsiCo by 93.2% during the 3rd quarter. Rakuten Securities Inc. now owns 199 shares of the company’s stock worth $34,000 after purchasing an additional 96 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut their target price on PepsiCo from $180.00 to $179.00 and set a “hold” rating on the stock in a research report on Wednesday, October 9th. Royal Bank of Canada cut their price target on PepsiCo from $177.00 to $176.00 and set a “sector perform” rating on the stock in a research report on Friday, October 4th. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, November 5th. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price on the stock. in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $183.92.

PepsiCo Price Performance

NASDAQ:PEP opened at $164.66 on Friday. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.89 and a quick ratio of 0.70. The stock has a market cap of $225.91 billion, a P/E ratio of 24.36, a PEG ratio of 3.07 and a beta of 0.53. The company has a fifty day moving average price of $171.48 and a 200 day moving average price of $171.72. PepsiCo, Inc. has a one year low of $158.03 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Tuesday, October 8th. The company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.01. The firm had revenue of $23.32 billion for the quarter, compared to analyst estimates of $23.86 billion. PepsiCo had a net margin of 10.18% and a return on equity of 57.32%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.25 EPS. Analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.